StockNews.com Begins Coverage on Moleculin Biotech (NASDAQ:MBRX)

StockNews.com began coverage on shares of Moleculin Biotech (NASDAQ:MBRX) in a report issued on Saturday. The firm set a “sell” rating on the stock.

Moleculin Biotech Price Performance

Shares of NASDAQ MBRX opened at $2.44 on Friday. The business’s 50 day moving average is $2.46 and its two-hundred day moving average is $3.74. Moleculin Biotech has a 52-week low of $2.12 and a 52-week high of $15.75.

Moleculin Biotech (NASDAQ:MBRX) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($2.10) by ($0.13). Sell-side analysts expect that Moleculin Biotech will post -8.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Moleculin Biotech

An institutional investor recently raised its position in Moleculin Biotech stock. Armistice Capital LLC grew its holdings in Moleculin Biotech, Inc. (NASDAQ:MBRX) by 5.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,000 shares of the company’s stock after acquiring an additional 7,505 shares during the period. Armistice Capital LLC owned about 6.75% of Moleculin Biotech worth $549,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 15.52% of the company’s stock.

About Moleculin Biotech

Moleculin Biotech, Inc, a clinical stage pharmaceutical company, focuses on the development of drug candidates for the treatment of cancers and viruses. Its lead drug candidate is Annamycin, which is in Phase 1B/2 clinical trials for the treatment of relapsed or refractory acute myeloid leukemia (AML) and soft tissue sarcoma metastasized to the lungs.